Braskem raises offer for Indupa listed shares by 78%

8:00 AM MST | February 25, 2014 | Francinia Protti-Alvarez

Braskem has revised the price of its stock tender offer to minority shareholders of polyvinyl chloride (PVC) manufacturer Solvay Indupa (Buenos Aires) to 2.40 Argentinian pesos/share, an increase of about 78% from the previous peso1.35/share offer, Braskem has announced. "[Braskem] believes the new offer is balanced and fair in view of the understanding presented by the CNV [Argentinian stock market regulator] with regard to Law 26,831 of the Capital Markets in Argentina," the company says. CNV had rejected Braskem's previous offer to acquire the 29.41%...